Vigeland Company completed the following transactions during Year 1. Vigeland's fiscal year ends on December 31. January 15 April 1 June 14 July 15 December 12 December 31 Required: Purchased and paid for merchandise. The invoice amount was $26,500; assume a perpetual inventory system. Borrowed $700,000 from Summit Bank for general use; signed a 10-month, 6% annual interest-bearing note for the money. Received a $15,000 customer deposit for services to be performed in the future. Performed $3,750 of the services paid for on June 14. Received electric bill for $27,868. Vigeland plans to pay the bill in early January. Determined wages of $15,000 were earned but not yet paid on December 31 (disregard payroll taxes). 1. Prepare journal entries for each of these transactions. 2. Prepare the adjusting entries required on December 31. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the adjusting entries required on December 31. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet 1 2 Record the $15,000 wages earned but not yet paid on December 31 (disregard payroll taxes). Note: Enter debits before credits. Date December 31 General Journal Debit Credit Record entry Clear entry View general journal < Required 1 Required 2 >